US Drillers Add Oil, Gas Rigs for Fifth Consecutive Week

The combined oil and gas rig count rose five to 533 in the week to Oct. 8, its highest since April 2020, Baker Hughes Co. said in its weekly report.

Scott DiSavino, Reuters

U.S. energy firms this week added oil and natural gas rigs for a fifth week in a row as oil prices soared to their highest since 2014 prompting some drillers to return to the wellpad.

The combined oil and gas rig count, an early indicator of future output, rose five to 533 in the week to Oct. 8, its highest since April 2020, Baker Hughes Co. said in its weekly report.

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